This paper offers empirical evidence that real exchange rate volatility can have a signi.cant impact on the long … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The … channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is … almost non-existent. This paper offers a framework in which policy volatility has an adverse effect on firms' entry into …

common specification, and common estimation methods, we argue that the contradictory findings can be explained by the fact …

autoregression, we derive return and volatility spillover indices over the rolling sub-sample windows. We show that there is … substantial difference between the behavior of the East Asian return and volatility spillover indices over time. While the return … spillover index reveals increased integration among the East Asian equity markets, the volatility spillover index experiences …

This study assesses macroeconomic volatility in Costa Rica, based largely on politically weak governments` inability or … unwillingness to effect key reforms. Notable problems include volatility-prone fiscal and monetary policy, structurally weak public …

Market expectations of future return volatility play a crucial role in finance; so too does our understanding of the … informativeness of volatility forecasts produced by ARCH models versus the volatility forecasts derived from option prices and in … improving volatility forecasts produced by ARCH and option models and combinations of models. Daily and monthly data are …